Weak Chinese trade data caps market gains

<p>Asian markets experienced somewhat mixed results on Monday.</p>

Asian markets opened the new week with a somewhat mixed start on Monday (February 9th).

Weak trade data from China, the world's second largest economy, capped market gains across the region. The Hang Seng index was down 0.3 per cent at 24,594.45 but the Shanghai Composite grew by 1.1 per cent to 3,109.13.

There had been optimism across the markets after the US announced a boost in the jobs market with the country adding 257,000 jobs in the past month alone, marking the 11th consecutive month where over 200,000 jobs were created.

It was aided by a 3.3 per cent increase in exports for January on Sunday but imports dropped by a considerable 19.9 per cent, much worse than industry expectations.

Japan's Nikkei 225 was up 0.4 per cent at 17,711.93 while Australia's S&P/ASX 200 was down 0.1 per cent at 5,814.9.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.